On the billionaire's tax, Joe Manchin says he doesn't like 'targeting different people' and that the ultrawealthy have 'contributed to society, created a lot of jobs'

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On the billionaire's tax, Joe Manchin says he doesn't like 'targeting different people' and that the ultrawealthy have 'contributed to society, created a lot of jobs'
© Drew Angerer/Getty Images Sen. Joe Manchin, D-W.V. Drew Angerer/Getty Images

  • Sen. Joe Manchin poured cold water on a possible billionaire’s tax on Wednesday.
  • “I don’t like it,” Manchin said, adding that the ultrawealthy have “created a lot of jobs.”
  • “I don’t like the connotation that we’re targeting different people,” he said.

When asked on Wednesday if he would support a possible billionaire’s tax, Democratic Sen. Joe Manchin of West Virginia poured cold water on the notion, but didn’t outright promise to oppose it.

“I’m supporting basically that everyone should pay their fair share,” Manchin said. “And I’ve just tried to think of it – I don’t like the connotation that we’re targeting different people.”

A potential billionaire’s tax has emerged in recent days as a way to break the logjam in Congress on President Joe Biden’s infrastructure package. Sen. Kyrsten Sinema of Arizona, the other prominent centrist Democrat alongside Manchin who has opposed many of the ways to pay for Bidens agenda, is reportedly more open to taxing billionaires than raising the corporate tax rate, although on Tuesday she lent her support to a 15% minimum tax on the largest corporations.

Earlier in his gaggle with reporters, Manchin said “there should be a 15% patriotic tax – that’s me speaking,” referring to the proposal Sinema also supports, which was produced by Sens. Ron Wyden, Angus King, and Elizabeth Warren. Wyden is also drafting the so-called billionaire’s tax.

At the same time, Manchin, explained his hesitation on specifically taxing billionaires.

“There’s people that basically, they’ve contributed to society, they’ve created a lot of jobs and invested a lot of money and give a lot to philanthropic pursuits, but it’s time that we all pull together and grow together,” he continued.

“Everyone’s going to pay. I believe we will end up where everyone must participate,” Manchin later added, leaving himself some wiggle room.

Read the original article on Business Insider

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